Tuesday, July 30, 2013

Palley on the next Fed chairperson

Tom Palley weighs in on Summers as a potential chairman of the Fed. He says:
"Summers’ policy inclinations remain questionable. Along with much of the economics profession, he now acknowledges the need for greater financial regulation, (although there also remains an underlying intellectual bias among economists against regulation). As for fiscal policy, he has shifted from austerity now to austerity later when economic recovery is more entrenched. Beyond that, little else has changed. In economics, it is difficult for an old dog to learn new tricks."
Read the whole piece here.

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